It's that 'light bulb' moment for a prospective
tenant when it sees a gap in the market (in this context, a retail
space) and intends to operate a business with exclusive rights to
sell a particular item or service. However those on each side of
the leasing transaction may have different views as to whether
there is actually an "exclusive" right or, if there is
such a right, the extent of that right.
Two cases in point
Khao Thai1 (the tenant) proposed to open a
Thai/Malaysian take away business in the popular Sydney Central
Plaza. The tenant asked the landlord for exclusive rights to be the
only vendor of Thai/Malaysian cuisine. The landlord did not agree
but, to provide some comfort to the tenant during negotiations,
specified in the letter of offer to the tenant, "it is our
intention not to have more than one operator of
